Bloomberg Surveillance

Surveillance: March CPI Sets Stage for Fed

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Apr 12, 2023
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INSIGHT

May Rate Hike Likely

  • The March CPI report suggests the Fed is on the right track regarding inflation.
  • A 25 basis point hike is still likely in May, according to Jay Bryson, Wells Fargo's Chief Economist.
INSIGHT

Market Complacency on Inflation

  • Market complacency exists regarding the Fed's ability to control inflation and lower rates.
  • Jay Bryson expresses concern about a potential disconnect between market expectations and the Fed's commitment to 2% inflation.
ADVICE

Navigate Market Uncertainty

  • Avoid directional market exposure due to heightened uncertainty.
  • Focus on dispersion within markets, particularly the historically high-interest rate volatility relative to low equity volatility.
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